Leavell Investment Management Inc. Invests $232,000 in InterDigital, Inc. (NASDAQ:IDCC)

Leavell Investment Management Inc. bought a new position in shares of InterDigital, Inc. (NASDAQ:IDCC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,635 shares of the Wireless communications provider’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IDCC. Pacer Advisors Inc. increased its stake in InterDigital by 51,337.0% during the second quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider’s stock worth $86,635,000 after purchasing an additional 741,820 shares during the period. Reinhart Partners LLC. acquired a new stake in InterDigital during the 3rd quarter worth approximately $27,762,000. Emerald Advisers LLC lifted its holdings in InterDigital by 127,997.9% during the 2nd quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider’s stock worth $14,035,000 after buying an additional 120,318 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of InterDigital by 283,160.0% in the third quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider’s stock worth $16,047,000 after acquiring an additional 113,264 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its position in shares of InterDigital by 473.5% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 96,469 shares of the Wireless communications provider’s stock worth $11,244,000 after acquiring an additional 79,648 shares during the period. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IDCC. Roth Mkm upped their price target on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

InterDigital Stock Performance

NASDAQ:IDCC opened at $183.07 on Monday. The firm has a market capitalization of $4.64 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 0.77 and a beta of 1.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. The business’s fifty day moving average price is $146.74 and its 200 day moving average price is $129.20. InterDigital, Inc. has a 12 month low of $85.36 and a 12 month high of $184.25.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Wednesday, October 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio (DPR) is 19.23%.

Insider Buying and Selling

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now owns 54,984 shares of the company’s stock, valued at approximately $7,850,615.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John A. Kritzmacher sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $138.72, for a total transaction of $346,800.00. Following the transaction, the director now owns 20,279 shares in the company, valued at $2,813,102.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $142.78, for a total value of $99,946.00. Following the completion of the sale, the chief technology officer now owns 54,984 shares of the company’s stock, valued at approximately $7,850,615.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,205 shares of company stock worth $716,218 over the last 90 days. 2.30% of the stock is owned by insiders.

InterDigital Company Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.